NetApp, Inc. (NASDAQ:NTAP) Shares Sold by Bangor Savings Bank

Bangor Savings Bank reduced its holdings in shares of NetApp, Inc. (NASDAQ:NTAP) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,508 shares of the data storage provider’s stock after selling 112 shares during the quarter. Bangor Savings Bank’s holdings in NetApp were worth $1,568,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NTAP. Commonwealth Equity Services LLC raised its position in NetApp by 2.8% in the second quarter. Commonwealth Equity Services LLC now owns 23,584 shares of the data storage provider’s stock valued at $3,038,000 after purchasing an additional 639 shares during the period. Candriam S.C.A. grew its stake in shares of NetApp by 18.3% in the second quarter. Candriam S.C.A. now owns 12,536 shares of the data storage provider’s stock valued at $1,615,000 after buying an additional 1,938 shares in the last quarter. Savant Capital LLC raised its holdings in shares of NetApp by 651.5% during the 2nd quarter. Savant Capital LLC now owns 19,050 shares of the data storage provider’s stock valued at $2,454,000 after buying an additional 16,515 shares during the period. Caprock Group LLC raised its holdings in shares of NetApp by 234.0% during the 2nd quarter. Caprock Group LLC now owns 7,818 shares of the data storage provider’s stock valued at $1,007,000 after buying an additional 5,477 shares during the period. Finally, Ballentine Partners LLC lifted its position in NetApp by 11.3% during the 2nd quarter. Ballentine Partners LLC now owns 2,638 shares of the data storage provider’s stock worth $340,000 after acquiring an additional 268 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Trading Up 0.9 %

NASDAQ NTAP opened at $118.00 on Tuesday. The firm has a market capitalization of $23.99 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 2.92 and a beta of 1.23. NetApp, Inc. has a one year low of $83.62 and a one year high of $135.45. The company has a 50-day simple moving average of $121.06 and a 200-day simple moving average of $123.44. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91.

NetApp (NASDAQ:NTAP) last posted its earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.78 by $0.09. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 earnings per share. On average, equities analysts forecast that NetApp, Inc. will post 5.83 earnings per share for the current year.

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Friday, January 3rd. NetApp’s dividend payout ratio is presently 38.24%.

Insider Buying and Selling at NetApp

In other NetApp news, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the transaction, the president now directly owns 27,099 shares of the company’s stock, valued at $3,116,114.01. The trade was a 44.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the completion of the transaction, the chief executive officer now owns 279,782 shares of the company’s stock, valued at approximately $34,774,104.78. This trade represents a 2.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,864 shares of company stock worth $6,185,830. 0.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Morgan Stanley lifted their price target on shares of NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Citigroup upped their price objective on shares of NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Bank of America boosted their price target on NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a research note on Friday, November 22nd. Finally, Oppenheimer assumed coverage on NetApp in a research note on Wednesday, November 13th. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $139.20.

About NetApp

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.